Swedbank AB Sells 12,000 Shares of AAON, Inc. $AAON

Key Points

• Swedbank AB reduced its stake in AAON, Inc. by 8.5% during Q1, owning 129,000 shares valued at $10.08 million as of its latest SEC filing.
• AAON recently announced a $0.10 quarterly dividend, with an annualized yield of 0.5%, to be paid on September 26th.
• Despite reporting lower earnings of $0.22 EPS for the last quarter, several analysts have maintained a "Buy" rating on AAON stock with a consensus target price of $102.00.

Swedbank AB cut its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 8.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 129,000 shares of the construction company's stock after selling 12,000 shares during the quarter. Swedbank AB owned about 0.16% of AAON worth $10,079,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Rakuten Securities Inc. raised its stake in AAON by 613.3% in the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after acquiring an additional 276 shares during the period. Versant Capital Management Inc boosted its stake in shares of AAON by 652.3% during the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock valued at $26,000 after purchasing an additional 287 shares in the last quarter. UMB Bank n.a. raised its position in shares of AAON by 81.2% during the first quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock worth $46,000 after acquiring an additional 264 shares during the last quarter. Parallel Advisors LLC increased its holdings in AAON by 26.3% in the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after purchasing an additional 149 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new stake in AAON in the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 70.81% of the company's stock.

Insider Buying and Selling at AAON

In other AAON news, insider Christopher Douglas Eason sold 12,003 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $85.08, for a total value of $1,021,215.24. Following the transaction, the insider directly owned 5,301 shares of the company's stock, valued at $451,009.08. This represents a 69.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rebecca Thompson sold 9,350 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total value of $758,191.50. Following the completion of the sale, the chief financial officer owned 24,396 shares of the company's stock, valued at $1,978,271.64. This represents a 27.71% decrease in their position. The disclosure for this sale can be found here. 18.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on AAON. Wall Street Zen cut AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. DA Davidson dropped their target price on AAON from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price for the company in a research report on Monday, June 16th. Finally, Robert W. Baird dropped their price target on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, AAON currently has an average rating of "Buy" and an average target price of $102.00.

AAON Stock Up 3.3%

Shares of AAON stock traded up $2.92 on Friday, reaching $91.56. 2,297,270 shares of the stock were exchanged, compared to its average volume of 973,715. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $144.07. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 62.29 and a beta of 1.00. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. The business's 50 day moving average price is $81.50 and its 200 day moving average price is $83.72.

AAON (NASDAQ:AAON - Get Free Report) last issued its earnings results on Monday, August 11th. The construction company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.09). The company had revenue of $311.57 million during the quarter, compared to analysts' expectations of $326.15 million. AAON had a net margin of 9.70% and a return on equity of 15.45%. The company's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. As a group, sell-side analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. AAON's payout ratio is 27.21%.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.